Homes for sale in Wayland MA in Metrowest Boston over the past six months have proven to provide many opportunities for Buyers. There have been 19 single family home sales in the last four months with an average sale price of $520,263. Last year for the same time period Wayland had 35 Single Family Home Sales with an average sale price of $587,223. as you can see there has been a significant price decrease this year versus last year. There are however slightly less homes on the market this year (99) versus Ly ( 108).
The reason that this remains a Buyer's Market is that a Buyer's Market exists when there are more homes coming on the market versus the homes that are coming off the market (the solds) + (the under agreements) in a given month. When this happens inventory sits for longer and prices go down.
In Wayland MA, at the time of this report, there are currently 9 sold and 19 under agreement in the past month. When we compare that number to the 99 current Listings, we find that there are more homes on the market than going off this month, thus a Buyer's Market! When this happens inventory sits longer and prices tend to go down.
The fact that there are less homes on the market versus last year is a good sign. We all know the "law of supply and demand" therefore if our inventory continues to drop things should begin to turn around! Again, the median sale price for single family homes sold during the past 4 months is $529,263 TY versus $587,223 LY so it is clear however that prices are coming down! This year the average house in the last six months sold for 88% of its original list price. Therefore it is clear that Sellers need to take price concessions in order to get their properties sold.
When looking at these statistics one might say that it may not be a good time to be selling a home. If you are looking to "move up" it is a great time to make the move! Although you may get less for your current house than you may have a year ago, you will also pay less for your new one! The amount of money you save on the purchase of your larger home should more than cover the amount that you feel you had lost on your current one!
One can not predict what the Wayland MA Real Estate market will be like in the coming years or even months, but what we do know is that interest rates are still at a historic low and with home prices down it is a great time to make a move! Should the interest rates rise just 1%, a Buyer would have to buy a home for 9% less in order to keep their monthly payments the same! Therefore, it does not make sense to wait since it is more likely that interest rates will increase 1% than it is that prices will drop 9% in the coming months! Home Buyers that are looking to get into the market to receive the benefits of home ownership or Home Buyers that are looking to "move up or down size", should make their move now! If you wait, you may get a lower price, but your monthly payments will most likely be higher!
To find out about the homes for sale in Wayland and other surrounding towns west of Boston, please visit my website at www.realestateofmass.com. Click on Property Search and follow the instructions. If you would like to receive up to the minute information on Real Estate and Homes for sale in the Metrowest towns of your choice, Rachel Bodner will set you up to receive automatic updates by E-Mail. After the first update, you will only be updated when something new comes on or if there is a price change. Please feel free to contact Rachel Bodner at 1-(978)-505-1466 or E-Mail Rachel Bodner at Rachel.bodner@nemoves.com. There is no obligation and no cost for these services. Feel free to visit www.realestateofmass.com for all your realestate needs!
Data Source: (Multiple Listing Service Property information Network)
ZIP Code: 01778 Location Characteristics: Wayland is a peaceful community located in MetroWest situated at the halfway point between Boston and Worcester. While Wayland is located in an area that provides easily accessible shopping, sightseeing, dining and entertainment, Wayland itself remains a quiet bedroom community in a semi-rural setting with little industrial or commercial base.
Wayland is the home to many urban professionals due in part to its peaceful setting and its close proximity to the City of Boston. In addition to that, Wayland is an ideal community to raise a family as Wayland's School System is known as one of the finest school systems in the state. Also, the Town has taken many steps to preserve forests, marshes and fields that surround the Sudbury River and provides its residents an opportunity to enjoy these areas for passive recreation.
Source: The Official Wayland town website
Wayland compared to Massachusetts state average:
Median household income significantly above state average. Median house value significantly above state average. Unemployed percentage significantly below state average. Black race population percentage significantly below state average. Hispanic race population percentage below state average. Median age above state average. Foreign-born population percentage significantly above state average. Renting percentage significantly below state average. Number of rooms per house above state average. Percentage of population with a bachelor's degree or higher significantly above state average
About Rachel Bodner:
International Diamond Society Award Certified Relocation Specialist Certified New Homes Specialist Certified Home Marketing Specialist Business Experience Over 18 years in marketing, managing and promoting a multi million dollar business Extensive experience negotiating with professionals on price, quality and customer satisfaction Extensive knowledge in developing advertising plans to promote product
Professional Achievement International Diamond Society Award Numerous Listing Agent and Selling Agent of the Month Awards Received Brokers Lisence 2008 Member of the National and Massachusetts Association of Realtors® Member of the Greater Boston Association of Realtors® Member of the Multiple Listing Service
Education and Certification B.S. in Management and Marketing from Ithaca College Graduate of the American Real Estate Acadamy Participation in the Coldwell Banker Career Foundation Program Countinuing Education in all areas of Real Estate to stay on the cutting edge of the Industry
Community Involvement Extensive volunteer work in Local Public Schools in various capacities for the past 8 years
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
